California Income Tax

Publisher
WiseGuides, Inc.
2796 Greenspire Ln
Akron, Oh 44333
Copyright © 2010

Field of Study: Taxes
Level: Basic
Recommended CPE Credit 4 hours
Prerequisites: None
Advanced Preparation: None
Type of Delivery: Self-Study
Expiration: Course expires 1 year after purchase
Course Update: April, 2010
Accreditation: NASBA, IRS, CTEC, OTPB
Guarantee/Complaint Resolution

Course Outline


Lesson 1 - Filing California Income Tax Returns
Learning Objectives 1
Current Changes
Who Must File a California Return
Deceased Taxpayers
Changes to the State or Federal Return
California Sales and Use Tax


Lesson 2 - General Information
Learning Objectives 2
Rounding to Whole Dollars
Filing Status
Exemptions
Taxable Income
Standard or Itemized Deduction
Which Method To Figure the Tax
Exemption Credits


Lesson 3 - Credits
Learning Objectives 3
Additional Credits
Credit for Joint Custody Head of Household
Credit for Dependent Parent
Credit for Senior Head of Household
Credit for Child Adoption Costs
Excess California SDI (or VPDI) Withheld
Child and Dependent Care


Lesson 4 - Forms and Schedules
Learning Objectives 4
Differences Between California and Federal Law
Schedule CA (540) Part I Income Adjustments
Part 1 - Section B
Schedule CA (540) Part II Adjustments
Form FTB 3885A
California Schedule D
Alternative Minimum Tax P (540)
Form 540-ES
Automatic Extension for Individuals


Lesson 5 - Pension and Annuity Guidelines
Learning Objectives 5
Social Security and Railroad Retirement Benefits
Pension and Annuity Income
Nonresidents Receiving a California Pension
Residents Receiving an Out-Of-State Pension
Individual Retirement Arrangements (IRAs)
Simplified Employee Pension (SEP)
Self-Employed Retirement Plans (Keoghs)
Roth IRAs
Education IRAs
Medical Savings Accounts
Tax on Early Distributions


Lesson 6 - Guidelines for Determining Resident Status
Learning Objectives 6
Introduction
Who are Residents and Nonresidents
Significance of Residency
Determining Residency
Temporary or Transitory Purposes
Income Taxable by California
Specific Professions
Residents of or Individuals in Foreign Countries
Married Filing Separate Returns

Course Objectives

Lesson - 1

After completing Lesson 1, you will be able to:
  • Determine who must file a California return
  • Identify what California laws conform to federal laws
  • Determine when a California return must be filed
  • Determine the filing requirements for children with investment income

Lesson - 2

After completing Lesson 2, you will be able to:
  • Determine which method must be used to figure the California tax
  • Determine when to use forms FTB 3800 and FTB 3803

Lesson - 3

After completing Lesson 3, you will be able to:
  • Figure the credit for joint custody head of household
  • Identify the rules for the credit for child adoption
  • Determine when the taxpayer can claim a credit for excess state disability insurance (SDI)


Lesson - 4

After completing Lesson 4, you will be able to:
  • Identify which income items require an adjustment on CA(540)
  • Identify the California estimated tax payment requirements
  • Identify the requirements when filing FTB 3519, Payment for Automatic Extensions
  • Identify some differences between California and federal law

Lesson - 5

After completing Lesson 5, you will be able to:
  • Figure the CA taxable pension amount for a part-year resident
  • Determine the CA tax treatment and limits of Individual Retirement Arrangements

Lesson - 6

After completing Lesson 6, you will be able to:
  • Figure the division of income between spouses/RDPs when separate returns are filed
  • Understand the guidelines for determining residency status
  • Determine when the FTB will issue advise or opinions on taxpayer issues